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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-02-28T17:48:00
A St. Louis-based investment adviser and its affiliate agreed to pay $893,502 to settle charges laid by the Securities and Exchange Commission (SEC) regarding failure to disclose conflicts of interest to their advisory clients over eight years.
The SEC charged Huntleigh Advisors and affiliate Datatex Investment Services with violating federal securities law from 2015-22 by not properly disclosing conflicts related to transaction fees, revenue sharing payments, mutual fund share class selection practices that generated fees, and failing to report some of these fees to the SEC, the agency said Monday in an administrative proceeding.
The SEC also said Huntleigh and Datatex breached their duty of care, including best execution for practices regarding the recommendation of mutual fund shares.
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News and analysis for the well-informed compliance or audit exec.
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2023-04-12T16:25:00Z By Aaron Nicodemus
SEC Commissioner Hester Peirce warned about “potential pitfalls” with structured data, which regulators and lawmakers have embraced as a way to make data accessible and easy to use.
2023-01-20T21:21:00Z By Adrianne Appel
Investment adviser Moors & Cabot reached a $1.9 million settlement with the Securities and Exchange Commission over allegations the firm didn’t fairly disclose conflicts of interest associated with incentive payments it received from two unaffiliated clearing brokers.
2022-11-15T18:51:00Z By Adrianne Appel
Credit rating agency S&P Global Ratings agreed to pay $2.5 million and improve its compliance practices to settle allegations by the SEC that its marketing team pressured the ratings team concerning the rating of a particular mortgage-backed security transaction.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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